Lillibridge development up 245 percent

SURVEY RANKS FIRM AS ONE OF NATION’S LARGEST HEALTHCARE DEVELOPERS

CHICAGO IL, Apr-3, 2008 – Making good on its aggressive plans for growth, Chicago-based Lillibridge, one of the nation's largest private healthcare real estate firms, recently moved up from its previous ranking of 22nd to claim the spot of the 12th largest healthcare developer. The ranking was published in Modern Healthcare magazine's recent 2008 Construction and Design Survey.

One-hundred eighty-five companies responded to the 29th annual survey. The magazine separated its results into five categories. Lillibridge and 21 other companies were ranked in the category of healthcare development firms.

"Lillibridge achieved a 245 percent increase in total development dollars from 2006 to 2007," says Todd W. Lillibridge, Chairman and CEO of the healthcare real estate firm. "Our company clearly gained market share last year with developments that included inpatient, outpatient and medical office buildings. This kind of sizable increase certainly says a lot about the experience and productivity of the Lillibridge team." 

The company also ranked sixth in overall square feet developed in 2007, with 1,326,000 square feet of completed projects. That number represented a 48 percent increase from the previous year.

The staff at Lillibridge has grown exponentially in recent years, with a 60 percent increase in employees from 2004 to 2008.

"We completed many exciting development projects in 2007," says John Montgomery, SVP Development, Lillibridge.  "One notable development was a 162,000 square foot, five-story MOB for Ascension / Columbia St. Mary's, located on their Milwaukee campus that included a Cancer Care Center. Another important project was a two-story, 164,000 square foot multidisciplinary outpatient facility at the Penn State Milton S. Hershey Medical Center.

"In today's economy hospitals and healthcare systems are becoming even more concerned about rising costs," continued Mr. Montgomery. "They come to Lillibridge because of our speed to market and our cost-saving and revenue-producing ideas."